Catastrophe & Restoration

Insured losses from the earthquake in Haiti are likely to be small, as insurance penetration there is far below one percent, according to a Munich Re expert addressing an audience via webinar.

An estimated 64 million U.S. dwellings contain lead-based paint. To avoid claim issues and litigation, adjusters must be properly trained to handle potential damages and safety concerns.

Earthquakes bring to mind a number of issues: How likely is an earthquake to occur at any location? What is the amount of insurance coverage is there on property in a prone area? And what coverage is provided by such insurance?

The magnitude 7.0 earthquake that caused catastrophic death and destruction in Haiti created hundreds of millions in economic damage, but insurance coverage for losses is minimal, according to modeling firms.

The 6.5-Mw earthquake that struck off the shore of northern California on Jan. 9, 2010 caused widespread blackouts but only minor structural damages and no major health injuries.

Many claim executives are exhaling a sigh of relief as 2010 gets underway, having had a chance to catch their breath due largely in part to a catastrophe season that wrapped up with the fewest named storms and hurricanes since 1997.